What are the responsibilities and job description for the Fund Governance Compliance Lead position at Great Gray?
Why Great Gray?
At Great Gray Group, we strive to set the bar for the retirement services industry. Our goal is to deliver advanced retirement solutions that combine our core fiduciary services with robust investment options, innovative technology, and dedicated client service. We focus on making choices clearer, transitions smoother, and the client experience more delightful. Complacency isn't in our vocabulary. Every day, we look for opportunities to better serve our clients, be an excellent business partner, and earn the trust of those who rely on us.
The Role
Great Gray is looking to add a Fund Governance Compliance Lead to our Implementation Solutions Team.
The Implementation Solutions Team is tasked with the end-to-end solutioning and implementation of complex and critical fund launches, new share classes, and life-cycle events across all Great Gray collective investment funds.
The Fund Governance Compliance Lead is responsible for leading and managing the organization's committee governance system related to the oversight of Great Gray collective investment funds to ensure compliance with applicable laws and regulations. In addition, this position will act as a subject matter expert on governing fund documents establishing standards and ensuring clarity in documentation of product design features.
The Fund Governance Compliance Lead will work closely with the Implementation Manager on the governance requirements related to fund launches, new share classes and lifecycle events. Fund lifecycle events include any maintenance to an existing fund's sub-advisor, eligibility, expenses, investment objectives as well as fund mergers, transition accounts, in-kind transfers and terminations.
Location
This position will work from our Wilmington, DE office. Great Gray currently supports a hybrid work model with 4 days onsite, and 1 day remote.
Visa sponsorship or transfer of an existing visa is not available for this position. Applicants must be authorized to work directly for any employer in the United States without visa sponsorship or transfer.
Responsibilities
- Act as the committee governance point of contact. Responsible for ensuring committees are operating as designed and adhering to all necessary requirements. This includes the following:
- Management and maintenance of committee Charters and Guidelines.
- Management and establishment of committee agendas with internal stakeholders based on committee requirements and business needs.
- Review and distribution of committee materials working with internal stakeholders to ensure submissions are of a high standard and suitable to present to the committee.
- Responsible for completing committee meeting minutes in accordance with fiduciary standards and reviewing with legal prior to distribution.
- Overall maintenance and retention of the committee file and documents.
- Identification and implementation of the proper level of internal committee reporting up through to the Board, including key performance metrics, key risk indicator reporting related to fund governance actions and responsibilities.
- Acts as the point of contact for fund governing document legal requirements. Will partner with legal on development and maintenance of governing document standards and ensuring compliance.
- Reviews and manages governing fund documents with internal stakeholders to ensure standards are maintained and business requirements are understood and properly documented. May assist with establishing and modifying governing fund documents for legal review and approval. Coordinates the management of the legal priority queue based on business needs.
- All Great Gray employees are responsible for the identification, assessment and control of risks and risk events. Employees will maintain an understanding of applicable policies, procedures, risk appetites and tolerance relevant to their function and operational unit and are expected to consider current and potential risks when making or informing business decisions. Employees are responsible for the accurate and timely escalation and recording of incidents associated to relevant risks.
- Complete other related duties as assigned.
Qualifications & Experience
- Bachelor’s degree in accounting, finance, business or relevant field
- 7 years experience in the financial services industry, preferably collective fund or mutual fund administration compliance or legal.
- ERISA experience desired but not required
- Demonstrated ability to be organized, work independently and maintain quality of work while meeting established deadlines
- Attention to detail
- Strong verbal and written communication skills, particularly an ability to negotiate, influence, tell a story, bridge different vantage points and gain consensus with stakeholders at all organizational levels
- Strong interpersonal skills necessary for building relationships within and outside the company
- Ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively
- Comfortable navigating ambiguity
- Entrepreneurial mindset to bring best practice ideas to the team
- Exhibits our Great Gray attributes: Results-Driven, Innovative, Resilient, and Decisive
Benefits
We have a comprehensive and competitive benefits package at Great Gray. Some of the highlights are:
- Be an integral part of an early-stage, high-growth organization!
- Hybrid work environment
- Competitive compensation package including 401(k) with elective and non-elective match opportunities
- Lifestyle spending allowance program
- Medical, Dental, Vision Insurance
- Employer-paid life and disability insurance
- Generous paid time off program
Company Background
Great Gray is the leading independent provider of trustee and administrative services to Collective Investment Trusts (“CITs”), with over $185 billion in CIT assets, across more than 700 funds. We proudly work with 75 subadvisors, including leading firms such as Alliance Bernstein, American Funds, BlackRock, Franklin Templeton, MetLife, Neuberger Berman, PGIM, PIMCO and Raymond James.
CITs are more than just an investment vehicle. They represent a forward-thinking approach to retirement planning. These tax-exempt, pooled investment vehicles are offered to employer-sponsored retirement plans, like 401Ks. CITs are comparable to mutual funds, but, because they are tailored for the institutional retirement market, they can offer distinct advantages, including efficient administration and cost-effectiveness. CITs have a history dating back over 90 years; but they have gained favor over the past decade, driven by innovations, and Great Gray has been at the forefront.
Great Gray has consistently delivered year-over-year growth at an above market rate and is investing in the continued development of its core CIT business as well as complementary administrative services and technology solutions for the retirement market.
Madison Dearborn Partners (“MDP”) purchased Great Gray from Wilmington Trust in April 2023. As a result, Great Gray is an independent company owned by funds affiliated with MDP.
Investor Background
MDP is a leading private equity investment firm based in Chicago. Since MDP's formation in 1992, the firm has raised aggregate capital of over $28 billion and has completed over 150 platform investments. MDP invests across five dedicated industry verticals, including basic industries; business and government software and services; financial and transaction services; health care; and telecom, media, and technology services.
Equal Employment Opportunity Policy
Great Gray, LLC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender perception or identity, national origin, age, marital status, protected veteran status, disability status or other non-merit factor.
